Saturday, June 23, 2012

Koch brothers, Cato Institute reach settlement

Koch brothers, Cato Institute reach settlement - Think Tanked - Washington Post - Allen McDuffee:

June 19, 2012 - "The Cato Institute and billionaire brothers Charles and David Koch have reached an agreement that will end their legal dispute for control of the libertarian think tank....

Today’s settlement, first reported at the National Journal and based on an internal e-mail, includes a solution to dissolve the controversial shareholders agreement, and Edward H. Crane, Cato co-founder and its only president since 1977, will step down....

Cato Chairman Bob Levy issued a statement.... 'The story in the National Journal is both incorrect and incomplete. We will have more to say about this on Monday. Any assessment prior to that time would be without substantiation and very likely wrong in important respects,' said Levy.

Wes Edwards, Deputy General Counsel for Koch Companies Public Sector, concurred with the following statement: 'The National Journal story is not fully accurate. The parties have agreed to prepare a joint release early next week to explain the terms of the resolution.'"

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